How fraud prevention tech can save banks €10M a year
A typical European bank, serving 10 million customers, could save up to €10 million annually and avoid growing fines by the regulator by implementing technology to improve the …
European Central Bank shuts down website following hack, data theft
The European Central Bank (ECB) confirmed on Thursday that its Banks’ Integrated Reporting Dictionary (BIRD) website has been compromised by attackers and taken down until the …
Digital bank Monzo urges customers to change PINs following security breach
Monzo, a UK-based mobile-only bank, has notified a subset of its users that their PINs have been inadvertently leaked into internal log files and were accessible to some of …
Five examples of user-centered bank fraud
In today’s digital-first world, banks and financial service companies need to allow their customers to easily manage money online in order to compete. Unfortunately, most …
Flaws allow attackers to bypass payment limits on Visa contactless cards
Flaws that allow attackers to bypass the payment limits on Visa contactless cards have been discovered by researchers Leigh-Anne Galloway and Tim Yunusov at Positive …
German banks to stop using SMS to deliver second authentication/verification factor
German banks are moving away from SMS-based customer authentication and transaction verification (called mTAN or SMS-TAN), as the method is deemed to be too insecure. …
Global IoT market projected to reach $1111.3 billion by 2026
Organizations around the world are increasingly adopting advanced technologies, which is driving the global Internet of Things (IoT) market. Fortune Business Insights in a …
Only 12% of banks appear to be fully committed to digital transformation
The US$1 trillion that traditional retail and commercial banks have invested globally over the past three years to transform their IT operations has not yet delivered the …
Open banking establishes new access to banks’ networks, creating additional security issues
As more markets adopt open banking — which mandates banks to open their systems to third parties — it will be increasingly critical for banks to ensure the security of not …
Which cyber threats should financial institutions be on the lookout for?
Banks and financial services organizations were the targets of 25.7 percent of all malware attacks last year, more than any other industry, IntSigths revealed in their latest …
Consumers trust banks most with their personal data, 68% still fear identity theft
People trust banks and other financial entities to safeguard their personal data more than other organizations. New nCipher Security research also illustrates how easily that …
Banks continue to prioritize risk management over customer convenience
Almost three in four banks in Asia Pacific anticipate that fraud in their country will increase in 2019, according to a recent poll by FICO. Of specific concern are …
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